H&M Manufacturing Company's records show the following account balances as of June 30, 2015. Cash Raw Materials Work in Process Accounts Payable (credit) Factory overhead The following transactions were completed during July: a. Raw materials purchsed on account, P740,000 P822,500 295,000 270,000 210,000 none b. Raw Materials requisitioned during the month: Direct materials, P570,000; Indirect materials, P110,000. c. Direct materials returned by production department to storeroom during the month, P11,000 d. Raw Materials returned to vendors during the month prior to payment, P25,000 e. Payment to vendors during the month, P685,000. 12. The balance of the Raw Materials account at the end of July is_